Following on from Alibaba, the ecommerce titan that is being talked about as China's equivalent of Amazon, has at last unveiled itself as the largest tech IPO in history, Chinese companies have never been so hot in the US. Over the last week, with Alibaba's potential $24.3 billion initial public offering, the company began its formal sales pitch after setting a price range that values the it around $155 billion.
Below We set out below a selected list of Chinese companies that went public in the US in the last few months.
JD.com Inc.
When JD raised nearly $2 billion, China's second largest online retailer experienced a 10% gain on the first day. The Beijing-based company has now risen by 40per cent.
Weibo Corp.
Weibo Corp. is China's version of Twitter and a leading social media platform for people to create, distribute and discover Chinese-language content. It allows Chinese people and organisations to publicly express themselves in real time and interact with others on a global platform. Weibo has had a marked social impact in China and its share price has jumped 19 per cent since its debut in March this year when the company was priced at US$17 per share.
Qunar Cayman Islands Ltd
Qunar Cayman Islands is a Chinese travel online operator on an ecommerce platform for service providers in the travel industry that enables users to find best-value deals by aggregating and processing highly fragmented travel product travel information in a user-friendly display. The company, in which tech giant Baidu, China's Google, is a 61 per cent shareholder that went public at the end of October last year after raising US$166.7 million. Qunar Cayman Islands was founded in 2005 and is headquartered in Beijing.
Total revenues for the second quarter of 2014 were US$64.5 million, an increase of nearly 130 per cent year-on-year, its highest revenue growth in ten quarters. Mobile revenues for the same period showed an increase of over 500 per cent year-on-year.
Jumei International Holding Ltd.
Jumei is a China's No.1 online cosmetic and beauty products retailer whose shares have risen 35% since its debut in May when $245 million was raised through its NYSE IPO. The company sells cosmetic brands such as Dior and Clinique online and through mobile apps. The company achieved US$483 million in net revenues and US$25 million in net income in 2013. Their internet platform is a trusted destination for consumers to discover and purchase beauty products and fashionable cosmetic products.
According to Forbes, Silicon Valley venture capitalists are behind many of China's tech companies that have or are due to go public and in China's rapidly growing consumer and digital markets, including online cosmetic retailer Jumei, career portal Zhaopin, retailing website JD.com and mobile gaming company Chukong. They follow the listing of Weibo in April.
The Tuniu IPO came just days after Alibaba announced plans to go public in the US, following Dangdang in 2010 and outdoor advertising service Airstream in 2008. The first generation of Chinese IPOs was all about the internet and copycat versions of Western websites. The second generation is about China's booming online shopping and mobile communications markets.
Below We set out below a selected list of Chinese companies that went public in the US in the last few months.
JD.com Inc.
When JD raised nearly $2 billion, China's second largest online retailer experienced a 10% gain on the first day. The Beijing-based company has now risen by 40per cent.
Weibo Corp.
Weibo Corp. is China's version of Twitter and a leading social media platform for people to create, distribute and discover Chinese-language content. It allows Chinese people and organisations to publicly express themselves in real time and interact with others on a global platform. Weibo has had a marked social impact in China and its share price has jumped 19 per cent since its debut in March this year when the company was priced at US$17 per share.
Qunar Cayman Islands Ltd
Qunar Cayman Islands is a Chinese travel online operator on an ecommerce platform for service providers in the travel industry that enables users to find best-value deals by aggregating and processing highly fragmented travel product travel information in a user-friendly display. The company, in which tech giant Baidu, China's Google, is a 61 per cent shareholder that went public at the end of October last year after raising US$166.7 million. Qunar Cayman Islands was founded in 2005 and is headquartered in Beijing.
Total revenues for the second quarter of 2014 were US$64.5 million, an increase of nearly 130 per cent year-on-year, its highest revenue growth in ten quarters. Mobile revenues for the same period showed an increase of over 500 per cent year-on-year.
Jumei International Holding Ltd.
Jumei is a China's No.1 online cosmetic and beauty products retailer whose shares have risen 35% since its debut in May when $245 million was raised through its NYSE IPO. The company sells cosmetic brands such as Dior and Clinique online and through mobile apps. The company achieved US$483 million in net revenues and US$25 million in net income in 2013. Their internet platform is a trusted destination for consumers to discover and purchase beauty products and fashionable cosmetic products.
According to Forbes, Silicon Valley venture capitalists are behind many of China's tech companies that have or are due to go public and in China's rapidly growing consumer and digital markets, including online cosmetic retailer Jumei, career portal Zhaopin, retailing website JD.com and mobile gaming company Chukong. They follow the listing of Weibo in April.
The Tuniu IPO came just days after Alibaba announced plans to go public in the US, following Dangdang in 2010 and outdoor advertising service Airstream in 2008. The first generation of Chinese IPOs was all about the internet and copycat versions of Western websites. The second generation is about China's booming online shopping and mobile communications markets.
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